JPMorgan Smashes Earnings Estimates, Credit Losses Slide

Jamie Dimon

Photo: CNBC

At first glance they look strong… Shares of JPMorgan are higher (now flat) after releasing earnings.Revenue of $26.1 billion came in handily ahead of $24.444 billion estimates.

EPS of $1.12 are surpassing the estimate of $1.00.

Said CEO Jamie Dimon: “Solid performance in the quarter and for the year reflected good results across most of our businesses, which benefited from strong client relationships and continued investments for growth.¬†Credit trends in our credit card and wholesale businesses continued to improve. In our mortgage business, while charge-offs and delinquencies have improved, credit costs still remain at abnormally high levels and continue to be a significant drag on our returns.”

Not surprisingly, however, credit losses across the company’s divisions were down across the board.

The company will hold a call at 9:00 AM. Expect questions about the dividend and the foreclosure situation then.

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